Under the agreement, 4C Medical will add the latest innovation in cardiovascular tissue engineering from Admedus to their novel transcatheter mitral regurgitation treatment technology.
Specifically, the functioning valve apparatus of the 4C implant will utilise tissue processed by Admedus’ clinically superior ADAPT® Tissue Engineering Process for the functioning leaflet component.
This additional key technology optimizes function and durability.
Wayne Paterson, chief executive officer for Admedus, said that he is confident the deal will generate a significant new revenue stream.
"4C Medical has already made significant progress on its development path in the very challenging TMVR space.
"We can now explore potential co-development applications across the full spectrum of transcatheter valves."
Admedus recently beats revenue forecasts for financial year 2017, after delivering a full year sales increase of 58% to $22.3 million.